Medtronic plc (NYSE:MDT) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its stake in Medtronic plc (NYSE:MDT) by 31.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,873 shares of the medical technology company’s stock after acquiring an additional 3,805 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $1,439,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC purchased a new position in shares of Medtronic during the third quarter valued at approximately $27,000. Darwin Wealth Management LLC acquired a new stake in Medtronic during the third quarter worth approximately $27,000. Lynx Investment Advisory purchased a new stake in Medtronic in the 2nd quarter worth approximately $28,000. Finally, Gleason Group Inc. acquired a new position in Medtronic in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDT. Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays lifted their price target on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Stifel Nicolaus increased their price objective on shares of Medtronic from $85.00 to $87.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.00.

Medtronic Trading Up 1.7 %

Shares of MDT opened at $86.21 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.61. Medtronic plc has a 12 month low of $75.96 and a 12 month high of $92.68. The stock has a market cap of $110.56 billion, a PE ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.84. The stock’s 50-day moving average is $88.99 and its two-hundred day moving average is $84.87.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. The firm had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. Medtronic’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. Equities analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.